Mortgage Foreclosure Specialist

AD Mortgage•Troy, MI

4d•$65,000 - $85,000•Onsite

About The Position

The Mortgage Foreclosure Specialist is responsible for managing a pipeline of defaulted loans within a mortgage servicing environment. This role ensures all foreclosure activities are executed in compliance with investor, insurer, and regulatory requirements while meeting strict servicing timelines. The specialist partners with foreclosure counsel, vendors, and internal departments to mitigate losses and ensure accurate, efficient case progression.

Requirements

Bachelor’s degree in Business, Finance, or related field (or equivalent work experience)
2–5+ years of experience in mortgage servicing, foreclosure, or default operations
Strong understanding of end-to-end default servicing, including foreclosure, bankruptcy, and loss mitigation
Knowledge of investor and insurer guidelines (Fannie Mae, Freddie Mac, FHA, VA)
Familiarity with foreclosure processes across multiple states (judicial and non-judicial)
Experience working with foreclosure attorneys and third-party vendors
Strong attention to detail, organizational skills, and ability to manage high-volume pipelines
Proficiency in servicing systems (e.g., MSP, Black Knight) and Microsoft Office Suite

Nice To Haves

Default servicing certifications (e.g., from Mortgage Bankers Association)
Experience with compliance audits, QC reviews, or regulatory exams
Knowledge of claims filing and post-foreclosure processes (conveyance, eviction, REO)

Responsibilities

Manage an assigned portfolio of delinquent mortgage loans referred to foreclosure
Ensure compliance with servicing guidelines from investors such as Fannie Mae, Freddie Mac, FHA, and VA
Review accounts for proper default servicing steps prior to foreclosure referral (e.g., loss mitigation, borrower outreach, regulatory notices)
Refer loans to foreclosure attorneys and oversee all legal actions through completion (judicial and non-judicial states)
Monitor attorney and vendor performance to ensure adherence to timelines, service level agreements (SLAs), and cost controls
Track and manage key foreclosure milestones, including first legal, judgment, sale, and post-sale activities
Ensure compliance with federal regulations, including those enforced by the Consumer Financial Protection Bureau, as well as applicable state laws
Coordinate with internal departments such as Loss Mitigation, Bankruptcy, Claims, and REO to ensure seamless loan resolution
Review and approve foreclosure-related fees, costs, and invoices for accuracy and allowability
Handle escalations, audits, and exception processing related to foreclosure activities
Maintain thorough and accurate system notes and documentation in the servicing platform
Support internal and external audits by providing documentation and responding to inquiries